“From all indication, LIAT will be liquidated,” this according to Prime Minister of Antigua and Barbuda, Gaston Alfonso Browne.
The Prime Minister said there will be a meeting of all shareholders shortly to discuss collapsing LIAT.
A new entity will be formed.
Barbados Today reported that due to “COVID-19 it increased the losses exponentially; whereas in all of 2019 LIAT made a loss of about EC$12 million, that was within the means of the shareholder governments to subsidize,” Browne said on local radio in Antigua.
“You would have found that since COVID, the planes have been grounded, they have to pay the lease payments and they are not getting any revenue.”
“A decision will have to be made to collapse it and then maybe the countries within the region will have to come together to form a new entity,” Browne added.